Puppet Obama pushes carbon tax proposal that would inflict new great depression

President elect sets out on agenda to revive frightening Lieberman/Warner legislationPresident elect Barack Obama used his speech at a Los Angeles summit last night to reinvigorate a push for the revival of a frightening proposal to slash carbon emissions by 80 per cent, a move that would inflict a new Great Depression, cost millions of jobs, and sink America to near third world status.

“My presidency will mark a new chapter in America’s leadership on climate change,” Obama said in a video message to governors and others attending a Los Angeles summit on the issue.

“In the roughly four-minute message, Obama reiterated his support for a cap-and-trade system approach to cutting green house gases. He would establish annual targets to reduce emissions to their 1990 levels by 2020 and reduce them another 80 percent by 2050,” reports the Associated Press.

Obama’s mission is to revive and expand the defeated 2007 Lieberman/Warner bill, “America’s Climate Security Act,” which proposed a cap and trade system to reduce carbon emissions 70 per cent by 2050.

The Environmental Protection Agency’s economic analysis of the bill forecast that a whopping $2.9 trillion would be shaved off the economy by the year 2050 if the legislation was enacted. It would also reduce GDP by 6.9 percent – a figure comparable with the economic meltdown of 1929 and 1930, and millions of jobs would have been lost within the first 10 years of its passage.